SC Engineering Completes Sale of Sewon ENC... "Entering Debt-Free Management and Strengthening New Business Capabilities"

[Asia Economy Reporter Hyunseok Yoo] SC Engineering has completed the sale of Sewon ENC and improved its financial soundness.

SC Engineering announced on the 20th that the balance payment for the share transfer contract of Sewon ENC has been received, amounting to 33.2 billion KRW. Last October, SC Engineering signed a contract to transfer 35 million shares of Sewon ENC for a total of 40.3 billion KRW to Digital Kingdom Holdings and five others.

A company official stated, “By reducing debt such as loan repayments and entering into virtually debt-free management, we have established a stable operational foundation for the existing EPC business. We expect a virtuous cycle structure to be created where financial soundness leads to strengthened competitiveness in bidding and improved profitability through increased orders.”

SC Engineering, a comprehensive engineering specialist company with 50 years of experience, operates EPC (Engineering, Procurement, and Construction) businesses in industrial plant sectors such as petrochemical and energy. Since last year, under CEO Kim Gun-woo, the company has been pursuing simultaneous growth of its core plant EPC business and new bio-healthcare ventures.

SC Engineering entered the new bio business by incorporating Cellontech, a regenerative medicine specialized bio company, as a subsidiary last year. Additionally, it expanded its bio-healthcare business by acquiring the health functional food division of Reset Healthcare.

A company representative said, “This year, we will do our best to increase corporate and shareholder value through new EPC business orders and simultaneous growth in the bio-healthcare new business. We also plan to concretize new business ventures currently under review to secure mid- to long-term growth drivers for SC Engineering’s sustainable growth.”

This content was produced with the assistance of AI translation services.